I originally sent in my transcript in the middle of my senior year. LSAC processed it, and that was the transcript on file. I didn't end up applying that cycle, so this year I sent an "updated" transcript--that is, a transcript that had the rest of my senior year grades on it (and degree conferred).

I think of "updated transcript" as there being something new on the transcript. Corrected transcript would mean that it's basically the same transcript--same grades, same semester--but something had to be corrected. "Corrected" seems to apply to your situation more.